How can the average American afford a down payment on house?

[Wild self]

Use white supremacist talking points Beth’s

The population is indeed growing outta control. How did America go from 120 million in 1970 to almost 340 million in 2018 (48 years)? The population almost tripled, and everyone wants to live in the coastal cities and think that housing and farmland is infinite (its not).

Not everyone can have a big backward, 5 kids, and so on for every generation for eternity. And besides that point, white folks gave up having kids altogether. They gonna be less than 20% of the population by 2040. They done. Finished.

In the meantime, it ain't right for people to work in these high end professions and still live in borderline poverty and skyrocketing cost of living. That is what these greedy wealthy people take advantage of entitled people.

 

[Standing on business]

When I look back at all the dumb shyt that I've wasted money on, these past 10 years I've been working, I could have definitely had enough money for a down payment, had saved and invested.

Now paying the mortgage on that mothafukka... Thats a different story

But let me ask this. Did you enjoy the things you've done the past 10 years with your money? Did it give you great experiences. Would you trade that in just to live dormant so you could buy a house?

 

[NinoBrown]

It's an issue of liquidity vs loans, most Americans gamble on the chance of a career shift or raise to pay off their mortgage sooner, but compensation and rise of consumer goods prices for everyone across the board that cause housing pitfalls.

 

[.r.]

He actually got laid off two weeks before closing. So he couldn't get the crib. Lot of work ended up being for nothing.

That's why you get a two family property, the other unit pays the mortgage. Regardless your friend don't want it bad enough. The security guard I told you about, has two jobs with a stay at wife plus kids.

Just saying!

 

[⠀X ⠀]

But let me ask this. Did you enjoy the things you've done the past 10 years with your money? Did it give you great experiences. Would you trade that in just to live dormant so you could buy a house?

I actually don't really want a house, but it would have been nice to have 75k laying around so I can start a business or invest something. I did enjoy those things, but they weren't anything of substance.

 

[im outchea]

I just purchased a house for 180k in the tri-state area.

FHA - they covered my down payment (3.5%). I put ZERO money down. Seller is covering all closing costs (8k) AND replacing the roof (4k).

Only thing I had to pay for was the home inspection ($600).

There's even programs out there that GIVE you money yearly for staying in your first home. The program im with gives a $2,000 tax credit every year i'm in the house. I wish I had bought sooner instead of renting for the past 10 years.

 

[GoGetMyDamnBelt_]

70k condo’s where

BINGO.

and you can save up enough to get the bread for that in a couple of years.

For that 70k, you can get a duplex, trick it out, rent it out, use that passive income on top of what you make at work to get into a house as well that’s my plan.​

 

[GoGetMyDamnBelt_]

I just purchased a house for 180k in the tri-state area.

FHA - they covered my down payment (3.5%). I put ZERO money down. Seller is covering all closing costs (8k) AND replacing the roof (4k).

Only thing I had to pay for was the home inspection ($600).

There's even programs out there that GIVE you money yearly for staying in your first home. The program im with gives a $2,000 tax credit every year i'm in the house. I wish I had bought sooner instead of renting for the past 10 years.

And what’s your credit score?

 

[Rekkapryde]

For that 70k, you can get a duplex, trick it out, rent it out, use that passive income on top of what you make at work to get into a house as well that’s my plan.​

wife and i sold our 3 duplexes we had a few months ago. Rented em out for 11 years.

 

[im outchea]

And what’s your credit score?

Ummm, around 715-720 last time I checked

 

[GoGetMyDamnBelt_]

wife and i sold our 3 duplexes we had a few months ago. Rented em out for 11 years.

So you think it’s a good plan? I live in Miami. My plan is to buy one out here like a foreclosed duplex, have my uncle trick it out for me (he owns his own construction business & told me as long as I pay for supplies, he’d do renovations), rent it out and use that money to buy a house in Atlanta.

 

[Rekkapryde]

So you think it’s a good plan? I live in Miami. My plan is to buy one out here like a foreclosed duplex, have my uncle trick it out for me (he owns his own construction business & told me as long as I pay for supplies, he’d do renovations), rent it out and use that money to buy a house in Atlanta.

yup. owning property is never bad. just pick the right time to sell if any.

 

[GoGetMyDamnBelt_]

Ummm, around 715-720 last time I checked

No wonder you got all those perks then.

 

[satam55]

depends on the situation . Why would a single breh buy a 250K house when he can buy a 50-70k condo?

And yes, low income ppl with kids just got like 4-10 racks back on taxes...if they can do it , richer people should be able to do it. excuses

10110 Forum West Dr #624 For Sale - Houston, TX | Trulia

Found one in Houston for 35K....... thats if nikkas aint allergic to the hood

then again, I dont know Houston, so this condo may or may not be in the hood

12500 Sandpiper Dr #101 For Sale - Houston, TX | Trulia

This a 2bd 2bath condo...39K , for sale by owner . this shyt aint hard...yall just looking to live around certain ppl

What are the prices lookng like for a 3 Bedroom/2 Bathroom condo? At them prices you listed, I wouldn't mind buying a condo as a starter home.

 

[Azul]

I'm telling u if u use ur RETIREMENT FUNDS to buy a house u are WHORING yourself financially and you CANNOT afford the home You are buying.

That is the SIMPLE version....

Dude I have the funds but didn't feel like dipping into my account. If a retiree takes a pension loan I could understand, but I'm an active worker and they barely take $100 from my paycheck.

I have TWO pensions plans (technically three if you count my TDA). In my case, THERE IS NO PENALTY TO TAKING A LOAN FOR ME. NONE. I still earn interest on my original amount. I'm paying myself back with interest. shyt isn't even on my credit report... so when I'm done paying myself back, have that extra in my account, and still have my crib, will I still be whoring myself?


Thethethecoli.come ya'll